THE BANGKO SENTRAL ng Pilipinas (BSP) has partnered with the Royal Canadian Mint (RCM) to share knowledge on currency production and gold refining.
The central bank signed a memorandum of understanding (MoU) with the RCM on Jan. 22, it said in a statement on Monday.
The MoU was signed by BSP Governor Eli M. Remolona, Jr. and RCM President and Chief Executive Offiver Marie Lemay from their respective headquarters during an online ceremony.
“The five-year partnership aims to foster collaboration between BSP and RCM, focusing on sustainability practices, cost-effective currency production, gold processing operations, and commemorative coin production,” the BSP said.
“The MoU also outlines key areas of cooperation, including technology exchange, staff training and exchange, and sharing best practices, expertise, and technical and capacity-building assistance,” it added.
The RCM produces and distributes Canada’s circulation and coins.
“Its expertise in coin production and innovation has served over 80 countries worldwide,” the BSP said.
In October, the BSP also signed agreements on payments and currency management with the central bank of France and Eurosystem banknote printer Banque de France and Bundesdruckerei GmbH, the German government’s banknote printer. — Luisa Maria Jacinta C. Jocson
